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Find out how to solve healthcare's $5 Billion inventory waste problem today. Then get back to the ridiculous gifs we found this week. 

Five To Save | Most Hospitals Won't Close. Is That Good Enough?

5/26/2020

The Z5 Piggy Bank's wallet is just as empty as most hospitals' in the wake of COVID-19.

We're pretty impressed with news organizations who have simultaneously overstated and underestimated the financial impact of COVID-19 on healthcare providers.

(Hospital closings and budgeting strategies are, incidentally, the topic of this week's Take 5: An Inventory Series episode. Subscribe on YouTube or your favorite podcast app if you haven't already.) 

 

As we mentioned in the last Five To Save, much of the media focus on hospital operations during the pandemic has centered around the steps facilities have had to take to remain able to serve their communities responsibly. (The number of furloughs has continued to tick up, by the way.) 

The reduction and shutdown of highly profitable elective procedures has created ripples that those outside of healthcare and supply chain's daily operations aren't likely to notice. 

  1. Hospital merger and acquisition activity has, in most cases, come to a screeching halt. And, not surprisingly, many expansion and construction projects have been put on hold or abandoned. 

  2. While some hospitals - particularly larger networks - might be able to pile government bailouts on top of sustained profitability, economic recovery - particularly at small facilities - might be a long time coming. 

  3. And that's because potential patients - especially at hospitals that were never overwhelmed by coronavirus cases - are likely scared of seeking out care

  4. Confusion about who, exactly, is paying for COVID-19 testing and treatment hasn't helped. 

  5. So is it time to rethink budgeting strategies in hospitals and their supply chains in specific? 

We've far exceeded our own budget of five articles for this week. But we're not done yet. 

Get your bonus article for signing up for the Five To Save newsletter, too. This week it's a genuine feel-good story. No, really. We promise. (Why does it sound more sarcastic every time we try to be reassuring?) Just sign up and we'll prove it to you. 

 

Topics: selling medical inventory, mergers, five to save, digital supply management, healthcare inventory, buying medical supplies, emergency preparedness, coronavirus, covid-19, take 5

Alex Diamond

Written by Alex Diamond

Raised in the armpit of East Texas before escaping to the civilization of Austin, Alex is an author and former radio/podcast personality. If you ever run into him, ask him about the day he split his pants in front of the Lone Ranger.